Question

The Wall Street Journal reports that 42% of the approximately 3500 stocks traded yesterday on the New York Stock Exchange advanced (that is, increased in price) and 58% declined or were unchanged. If you had randomly chosen four stocks at the start of the day, how likely is it that
a. all four stocks you selected increased in value?
b. Exactly two of the four stocks you selected increased in value?
c. No more than one of the four stocks you selected increased in value?